92% of Canadians Believe Monopolies Are Driving Up Prices, Says Poll
- 92% of Canadians believe monopolies are driving up prices
- 69% believe competition laws and regulations benefit large companies over consumers
- 86% agree that more competition means lower prices and more choices for consumers
A recent Mainstreet Research poll conducted by OpenMedia and Ekō shows that 92% of Canadians believe that high market concentration is driving up prices across multiple sectors.
The survey also revealed that 69% of Canadians believe that competition laws and regulations favour large companies over consumers. Furthermore, 86% of respondents agree that more competition between businesses will mean lower prices and more options for consumers. The results were broadly similar across provinces and partisan lines.
Angus Wong, Senior Campaign Manager at Ekō, stated that “cost of living is skyrocketing in Canada, and one of the major causes of inflation in these two industries is a lack of competition. Five grocery chains and three telecom companies control almost all of the Canadian market.”
Polling data shows that 83% report that their internet and cell phone bills impact their monthly budget – 44% significantly so and of those who earn less than $50,000 annually, 53.9%.
The says that 72% of Canadians do not believe the government is doing enough to provide affordable and competitive telecom services.
OpenMedia Campaigns Director Matt Hatfield expressed concern over the government’s handling of the situation, saying in an issued statement that “band-aid solutions aren’t enough. The first party that offers a comprehensive solution to addressing Canadians’ frustration and dismantling our monopolies will reap the political rewards.”
“Rogers, Bell, and Telus must be taken down. Our community members know it. Our Industry Minister @FP_Champagne knows it – in fact, he stepped aside to let Rogers become the King of Canada’s Internet,” said OpenMedia on Twitter.
The OpenMedia and Ekō communities have delivered over 23,800 signatures to the federal government calling for thorough reform of the Competition Act. Their joint submission to the government’s recently closed consultation on Competition Act reform demands laws that protect Canadians and not corporate giants, government intervention to block monopolies from growing, and mechanisms to hold corporations accountable.